Cbt 2553 r-2026

The document is a Retroactive S Election Application (CBT-2553-R) for corporations in New Jersey seeking retroactive S Corporation status. It outlines the necessary steps, including corporate information, required payments, and consent statements from both corporate officers and shareholders. The application must be submitted to the New Jersey Division of Revenue along with a fee for each year affected by the retroactive request. It also details conditions under which the retroactive election may be denied.

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Click ‘Get Form’ to open the CBT-2553-R in the editor.
In Part I, enter the name of your corporation exactly as it appears on form NJ-REG and CBT-2553. Then, input your Federal Employer Identification Number (FEIN) assigned by the IRS.
Proceed to Part II. Here, provide your NJ Corporation Serial Number and ensure you include the required payment of $100 for each year this retroactive request applies. Specify the date you wish to begin this election.
In Part III, read through the Corporate Consent Statement carefully. Print the name and title of the corporate officer signing this document, ensuring it matches with CBT-2553.
Finally, in Part IV, gather signatures from all shareholders for consent. Ensure that every past and present shareholder during the consent period has signed.

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Does New Jersey recognize S corporations?

Corporations may elect to register in New Jersey as a Sub-Chapter S corporation. Since the S corporation status for federal purposes does not automatically flow through for New Jersey state purposes, you must apply for S corporation status in this state and receive approval of the election.

Can I file S Corp election online?

You need to file Form 2553, Election by a Small Business Corporation to be treated as an S corporation by the IRS. You may file the form online, but only from the ElectSCorp website. If you would prefer to file it offline, these instructions may be helpful.

Can you undo an S election?

To revoke a Subchapter S election/small business election that was made on Form 2553, submit a statement of revocation to the service center where you file your annual return. The statement should state: The corporation revokes the election made under Section 1362(a)